Online fashion store Myntra is in talks to raise $50 million investment led by Azim Premji's PremjiInvest, reports Times Of India citing sources familiar with the development. It also says British investor CDC (Commonwealth Development Corporation) is expected to participate in the investment round along with existing investors Accel Partners and Tiger Global. Myntra co-founder Mukesh Bansal told the publication that they are currently in talks with various investors and they will raise money with "the right set of investors at an appropriate time". PremjiInvest CFO Prakash Parthasarathy declined to comment on this investment to the publication. Myntra is probably one of the few remaining e-commerce ventures which still hasn’t pivoted to a marketplace model in the country, with the other prominent exception being HomeShop18 which claims to be the only company in the e-commerce space in India to have FDI approval. The company has so far…
